secwatch.observer — SEC 8-K summary
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Issuer:     Avangrid, Inc. (—)
CIK:        0001634997
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0001193125-23-297636
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Avangrid issues parent guaranty up to $725M for Vineyard Wind 1 tax equity financing
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- Parent guaranty initial amount $57M, increasing to max $725M as tax equity investors fund.
- Guaranty issued Dec 13, 2023 to J.P. Morgan, Bank of America, and Wells Fargo.
- Vineyard Wind 1 is 50% indirectly owned by Avangrid subsidiary; develops offshore wind off Massachusetts.
- Tax equity financing of ~$1.2B closed Oct 24, 2023; parent guaranty issued upon first funding.
- Guaranty covers development, construction, ownership, and operation of the Vineyard Wind 1 Project.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1634997/000119312523297636/0001193125-23-297636-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1634997/000119312523297636/d416439d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-297636

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer